Businesses are one of the most veritable and vital tools for cryptocurrency to disrupt traditional finance. This is important because crypto is not only a flexible and trustless solution for investment and savings. It is also a payment solution—for peer-to-peer (P2P), business-to-consumer (B2C), and business-to-business (B2B) transactions.
By now accepting crypto payments, several businesses have begun to understand the vital role they (have to) play in helping crypto oust traditional financial systems. In fact, over 15,000 enterprising companies across the globe currently accept crypto payments. And they rely on crypto payment gateways—of which CoinPipe is one.
CoinPipe: A Crypto Conduit For Businesses
CoinPipe is a product of insight and foresight, a union of current trends and future predictions. Current trends show that despite the crypto winter, many recognize cryptocurrencies as an effective hedge against the biting inflation presently rocking the globe. These trends also show that consumers are continuously in search of payment methods that are faster, easier, and more secure than what is currently obtainable.
Future predictions, on the other hand, suggest that by 2030, cryptocurrencies won’t just be an asset class but instruments for real-world transactions. Therefore, CoinPipe came into the scene to take advantage of these trends and prepare individuals and businesses for the future. It is a full-scale tool for crypto payments that enables easy and quick business transactions.
CoinPipe can be dubbed a conduit for businesses to tap into the trillion-dollar crypto industry. And not just businesses but individuals too. CoinPipe is for everyone (investors, content creators, politicians, social media influencers, software developers, and real estate agents) and for diverse purposes (sending and receiving donations, paying salaries, buying and selling products).
Why CoinPipe Stands Out?
Crypto companies continue to work to introduce new solutions (or improve on existing ones) for prevalent problems in the crypto space. The products that often stand out are those that don’t just offer a generic solution(s) but go on to target specific user pain points. This is what CoinPipe does.
It is a melting point for both generic payment solutions (speed and direct payments) and specific ones (market analytics, automated reports, volatility protection, VISA debit card).
- Speedy, direct payments: Like other crypto payment platforms, CoinPipe incorporates two common features inherent in cryptocurrency/blockchain technology: speed and trustlessness. CoinPipe users can carry out speedy transactions that go directly to the recipient’s wallet without needing a third party. CoinPipe’s speed begins when the user decides to integrate it into their business. In just two steps, users can integrate CoinPipe into their business.
- Automated reports: CoinPipe enables users to transact within the ambits of the law by furnishing them with regular automated reports and country taxation guides. Thus, it does not matter if the user is unfamiliar with taxation laws within their country of domicile. As long as they keep abreast with the guides provided by CoinPipe, they can protect themselves from the consequences of violating the laws. For instance, a user will be taxed twice if they decide to hold their tokens instead of converting the tokens to dollars and reporting the income to the IRS right away.
- Market analytics: Users can keep track of their payments through their dashboard. They can see the total payments received and also the payments received daily and monthly. CoinPipe further tracks these payments by tokens. This means the user can see the percentages of payments received in the over 30 cryptos supported by CoinPipe—including NEAR, Cardano (ADA, and Litecoin (LTC).
- Volatility protection: CoinPipe supports stablecoins like USDT and USDC so as to protect users from market volatility. In times of market turmoil, users can swap payments from other currencies into stablecoins. This also implies that users can take advantage of market volatility during market booms by swapping USDT for conventional tokens.
A Payment Solution Not Just On A Paper: CoinPipe At NEARCON 2022
NEARCON always features a myriad of crypto projects and vendors. And NEARCON 2022 was no different. It was a convention where crypto enthusiasts were prepared to use crypto to pay for their groceries, clothes, tickets, car services, and accommodation. And CoinPipe was on the ground to ensure that these transactions were executed swiftly.
Narrating CoinPipe’s presence at NEARCON 2022, Alex Gorshov, CoinPipe’s founder, said: “Our POS terminal at NEARCON 2022 [. . .] was a big hit. There was a long line for beer sold for NEAR tokens. People were really excited to see how this crypto bank-like experience works when you buy a physical product, get it in your hands, pay with crypto, and get a receipt.”
What to Expect from CoinPipe in 2023?
CoinPipe is getting ready to add to its existing features that have rooted its feet firmly in the crypto space. Some of the new features that will be released soon include a loyalty system, tunable fees, and customizable financial management strategies.
- Loyalty system: This will allow businesses to reward their customers with different tokens, which they can use for future purchases from the business. For instance, a customer can purchase a product in USD and receive an LTC reward, which they can use for a future purchase.
- Tunable fees: This will allow CoinPipe merchants to configure their processing fees.
- Customizable financial management strategies: Merchants can develop their own financial management strategies and earn crypto rewards for doing so.
Decades ago, a financial system eliminating third parties would not have been considered possible. And making payments with such a trustless system would have been a pipe dream. However, right before billions of eyes, such a financial system has lived for more than a decade. It has also birthed a solution like CoinPipe—which is pioneering what was once thought to be a pipe dream.
Merchants can sign up for free on CoinPipe and pay only a 0.5% fee per transaction. CoinPipe is not just enabling crypto transactions; it is ferrying businesses and individuals toward a safer and faster financial system.